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Research: 70% of Brits prefer streaming to broadcast
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Research: 70% of Brits prefer streaming to broadcast
Research from omnichannel sell-side advertising platform Magnite finds almost seven in 10 (69 per cent) UK consumers prefer streaming services to broadcast linear TV (31 per cent).
The study, CTV: The Future Forward, identifies how audiences are consuming TV and explores the opportunity for marketers seeking to connect with engaged audiences as the shift to Connected TV (CTV) accelerates and consumer behaviour evolves.
Increasing adoption for CTV services
The UK leads in terms of CTV adoption in EU5, according to the report, which surveyed 10,500 consumers across the UK, France, Germany, Spain, and Italy . Among the five countries surveyed, nearly nine in 10 (89 per cent) UK respondents reported using a streaming service at least once a week and three-fifths (61 per cent) watched daily. UK viewers tune into subscription (SVoD) and ad-supported (AVoD) streaming services almost equally, showing that advertising is not a barrier to adoption, with three-quarters watching SVoD (75 per cent) and AVoD (74 per cent) weekly.
The report also found that half (51 per cent) of UK viewers’ time spent watching TV takes place on streaming channels, and if they could only keep one, over half (55 per cent) would choose streaming services versus broadcast linear TV (45 per cent). Currently, half (50 per cent) of TV audiences turn first to streaming channels instead of broadcast. When delving into the different consumption patterns between CTV and broadcast channels, three-fifths (62 per cent) of viewers watch broadcast TV out of habit, whereas three-fifths (62 per cent) of respondents choose CTV as their default service because it boasted their favourite shows and half (51 per cent) enjoy the greater variety of content.
When looking at streaming behaviour by age, the preference is even more pronounced. Nearly seven in ten (70 per cent) Millennials and GenZers go directly to streaming channels first over broadcast.
“We’re experiencing a seismic shift in how individuals are consuming content,” notes Julie Selman, UK Managing Director at Magnite. “The research demonstrates a significant change in consumer behaviour, with more than half (54 per cent) of UK viewers watching more CTV content now versus a year ago. This acceleration in CTV adoption creates a huge opportunity for advertisers to use the power of CTV to connect with consumers, and reach people where they are enjoying content they love.”
Additional findings from the study include:
AVoD vs SVoD: Over two-thirds (67 per cent) of respondents said they would be willing to pay more for streaming services, indicating a healthy appetite for additional streaming content. For these consumers who would increase their streaming budget, the average maximum monthly budget was identified as £32, up from the current average monthly spend of £25. That being said, UK audiences are still budget-conscious and over four-fifths (85 per cent) said they prefer to watch advertising in exchange for free or reduced-cost streaming services. Over three-quarters (77 per cent) would switch to a free or reduced-cost, ad-based tier of a paid streaming service if available.
The advertiser’s opportunity: Over six in ten (63 per cent) UK consumers are receptive to CTV advertising, especially those that are relevant to the show they are watching (77 per cent), relevant to hobbies or interests (75 per cent), or related to online searches (58 per cent). And CTV is a key driver in encouraging consumer action signalling the major potential of CTV to deliver on campaign goals; almost eight in ten (78 per cent) have taken an action after exposure to a CTV ad – including online searches and purchasing an advertised product or service.
“Our latest research shows that CTV is more than a brand-building opportunity for advertisers and that CTV exposure leads audiences to take concrete actions,” advisees Selman. “Two-fifths (39 per cent) of viewers recognise that addressable ...
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By SMAdvancedForum-News\n \n
Research: 70% of Brits prefer streaming to broadcast
Research from omnichannel sell-side advertising platform Magnite finds almost seven in 10 (69 per cent) UK consumers prefer streaming services to broadcast linear TV (31 per cent).
The study, CTV: The Future Forward, identifies how audiences are consuming TV and explores the opportunity for marketers seeking to connect with engaged audiences as the shift to Connected TV (CTV) accelerates and consumer behaviour evolves.
Increasing adoption for CTV services
The UK leads in terms of CTV adoption in EU5, according to the report, which surveyed 10,500 consumers across the UK, France, Germany, Spain, and Italy . Among the five countries surveyed, nearly nine in 10 (89 per cent) UK respondents reported using a streaming service at least once a week and three-fifths (61 per cent) watched daily. UK viewers tune into subscription (SVoD) and ad-supported (AVoD) streaming services almost equally, showing that advertising is not a barrier to adoption, with three-quarters watching SVoD (75 per cent) and AVoD (74 per cent) weekly.
The report also found that half (51 per cent) of UK viewers’ time spent watching TV takes place on streaming channels, and if they could only keep one, over half (55 per cent) would choose streaming services versus broadcast linear TV (45 per cent). Currently, half (50 per cent) of TV audiences turn first to streaming channels instead of broadcast. When delving into the different consumption patterns between CTV and broadcast channels, three-fifths (62 per cent) of viewers watch broadcast TV out of habit, whereas three-fifths (62 per cent) of respondents choose CTV as their default service because it boasted their favourite shows and half (51 per cent) enjoy the greater variety of content.
When looking at streaming behaviour by age, the preference is even more pronounced. Nearly seven in ten (70 per cent) Millennials and GenZers go directly to streaming channels first over broadcast.
“We’re experiencing a seismic shift in how individuals are consuming content,” notes Julie Selman, UK Managing Director at Magnite. “The research demonstrates a significant change in consumer behaviour, with more than half (54 per cent) of UK viewers watching more CTV content now versus a year ago. This acceleration in CTV adoption creates a huge opportunity for advertisers to use the power of CTV to connect with consumers, and reach people where they are enjoying content they love.”
Additional findings from the study include:
AVoD vs SVoD: Over two-thirds (67 per cent) of respondents said they would be willing to pay more for streaming services, indicating a healthy appetite for additional streaming content. For these consumers who would increase their streaming budget, the average maximum monthly budget was identified as £32, up from the current average monthly spend of £25. That being said, UK audiences are still budget-conscious and over four-fifths (85 per cent) said they prefer to watch advertising in exchange for free or reduced-cost streaming services. Over three-quarters (77 per cent) would switch to a free or reduced-cost, ad-based tier of a paid streaming service if available.
The advertiser’s opportunity: Over six in ten (63 per cent) UK consumers are receptive to CTV advertising, especially those that are relevant to the show they are watching (77 per cent), relevant to hobbies or interests (75 per cent), or related to online searches (58 per cent). And CTV is a key driver in encouraging consumer action signalling the major potential of CTV to deliver on campaign goals; almost eight in ten (78 per cent) have taken an action after exposure to a CTV ad – including online searches and purchasing an advertised product or service.
“Our latest research shows that CTV is more than a brand-building opportunity for advertisers and that CTV exposure leads audiences to take concrete actions,” advisees Selman. “Two-fifths (39 per cent) of viewers recognise that addressable ...